Tag Archives: Consumer brands

Homecare specialists Medi-Markt and Unizell merge to form Liveo Group

GIMV

The Liveo Group brings a highly capable supplier to the German homecare market specialising in the sophisticated, long-term care of chronically ill or impaired people in their home environment. Mannheim-based Medi-Markt Group and Unizell Medicare GmbH from Bad Schwartau are combining their strengths with the assistance of European private equity company Gimv.

The new Liveo Group’s service offering comprises a broad range of products and services required for domestic care and support such as absorbent or drainage incontinence products, care for stoma patients, care aids, diabetes products and enteral nutrition therapies as well as nursing courses, training and emergency call systems. The Liveo Group will employ over 450 people. The Group operates throughout Germany and will achieve total combined sales revenues of approximately EUR 150 million.  The two merging company groups will retain their existing brand names.

Gimv acquired a majority in Medi-Markt as part of a succession plan in 2018. Since then, it has worked with management to continuously develop its offering and its market position, helping the company to achieve strong growth. The acquisition of the Saxony-based firm mediclean Home Care Service GmbH greatly expanded the supply of medical resources and consumables in the federal states of Eastern Germany and in the nursing sector. Since Gimv came on board the offering for patients has expanded, significant investments were made in digitisation, and sales revenues have jumped by around 70%. Thanks to this strong growth, Gimv has achieved returns above its long-term average targets throughout its entire investment period in Medi-Markt.

Under the more than 30-year leadership of its managing partner Jürgen van der Smissen, Unizell has developed into a successful full-service provider for homecare patients. The expansive, customer-centred portfolio comprises products, training courses, qualifications and personal support.

“The merger improves our performance and enables us to offer innovative digital solutions that make life easier for our customers, for patients, for caregiving relatives and for specialist staff, improving their use of our offerings. This step will make for even better care. Our employees are the key to our success. By combining their knowledge, we are laying a strong foundation for continued growth and development – for our customers, our employees and our shareholders”, explains Dr. Torge Doser, CEO of Medi-Markt and of the new Liveo Group.

This view is shared by Jürgen van der Smissen, Managing Partner of Unizell who will support the group as a significant minority shareholder and advisory board member following the transaction: “I am delighted to see two quality-leading suppliers now coming together whose philosophy centres around customers’ needs and desires and who complement each other perfectly. Together they are forming a group that stands for very similar values and that will be able to shape the homecare market even more actively than before, to everyone’s benefit.”

Philipp v. Hammerstein and Lars Timmer, Partner specialising in healthcare and Senior Principal at Gimv’s Munich office, add: “With Unizell, Medi-Markt has found the perfect fit. The Liveo Group will give even more people greater control over their day-to-day lives while improving the quality, efficiency and cost-effectiveness of their care. We look forward to assisting the Liveo Group with all our energy over the coming years.”

Gimv will hold a majority interest in Liveo and will continue to grow the group with Jürgen van der Smissen. The transaction remains subject to the usual official approval and is expected to be completed in the coming weeks. Upon completion, the Liveo Group will be among Gimv’s five largest portfolio companies.

Categories: News

Tags:

Bain Capital Agrees to Acquire Supermarket & Specialty Stores Businesses from Seven & i Holdings

TOKYO, March 6, 2025 – Bain Capital, a leading global private investment firm, today announced that it has signed a definitive agreement to acquire York Holdings’ headquarters and subsidiary management functions, along with its supermarket and specialty store businesses (“SST Business Group”). Bain Capital has also agreed with Seven & i Holdings regarding the absorption-type split and the implementation of a partial reinvestment from Seven & i Holdings.

Established in October 2024 as a wholly owned subsidiary of Seven & i Holdings, York Holdings oversees 29 subsidiaries and affiliated companies, including major supermarket chains Ito-Yokado and York-Benimaru, as well as specialty retailers including Loft, Akachan Honpo, and Seven & i Food Systems (which operates the family restaurant chain Denny’s).

Founded in 1920 in Japan, Ito-Yokado has grown over 100 years under the philosophy of “striving to be a trustworthy company for customers, business partners, employees, and all kinds of stakeholders.” The company has built a reputation for high-quality food offerings, while demonstrating values of supporting the local community and the lives of customers.

York-Benimaru has a strong presence in the Tohoku and northern Kanto regions, operating community-focused supermarkets that provide fresh and ready-to-eat foods, daily necessities, home supplies, and clothing.

In addition to its supermarket operation, York Holdings manages specialty retailers such as Loft and Akachan Honpo, as well as restaurant chain Denny’s. As an integrated retailer that enriches customers’ daily lives through clothing, food, and housing, York Holdings is a leading force in the retail and consumer goods industry.

“SST Business Group is one of Japan’s leading companies in the industry, centered around businesses such as Ito-Yokado, which has a history of over 100 years; York-Benimaru, loved by locals as the community’s kitchen; as well as Loft, Akachan Honpo, and Denny’s, that together as a comprehensive retail enterprise, support our daily lives,” said Naofumi Nishi, a Partner at Bain Capital Private Equity. “We are delighted to have the opportunity to partner with such a remarkable Group and further support its growth. Bain Capital will work closely with the Group, leveraging our expertise in supporting retail and consumer goods companies both globally and locally in Japan, to bolster the company’s continued growth. In addition, we will work closely with our in-house real estate specialist team to provide comprehensive support to maximize the value of the group-operated facilities by taking on initiatives such as attracting the best tenants to these facilities.”

Bain Capital has extensive experience supporting businesses in the retail and consumer goods sectors, including drugstore chains such as Kirindo and Dollarama (a dollar store operator in Canada), as well as brand and specialty retailers such as MASH Holdings, Snow Peak, and Canada Goose. Drawing on investment insights that Bain Capital has cultivated in this sector, Bain Capital will support SST Business Group in further strengthening its operational base and accelerating its medium-to long-term business growth, in partnership with the management and employees.

On this transaction, Bain Capital’s financial advisors include BNP Paribas (as the lead), along with Citigroup Global Markets Japan Inc., and Mizuho Securities Co., Ltd. Legal advisors include Anderson Mori & Tomotsune and Ropes & Gray LLP.

###

About Bain Capital

Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management.

To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

Categories: News

Tags:

KKR to Sell Seiyu to Trial Holdings

KKR

Transaction marks significant outcome for KKR and poises Seiyu for further success

TOKYO–(BUSINESS WIRE)– KKR, a leading global investment firm, and Seiyu, a nationwide supermarket chain in Japan, today announced the signing of definitive agreements to sell Seiyu (the “Company”) to Trial Holdings, Inc. (TSE stock code 141A; “Trial”), a distribution and retail business operator in Japan that operates a network of stores offering “everyday essentials” in Kyushu. This transaction represents a significant outcome for KKR and follows transformational work that positions Seiyu strongly for continued success.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250304329234/en/

KKR first acquired a 65% majority stake in Seiyu from Walmart in 2021, before acquiring an additional 20% stake from Rakuten in 2023, taking KKR’s shareholding to 85%. As part of the transaction, Walmart will also sell its 15% stake to Trial.

As committed investors in Seiyu, KKR and Walmart have collaborated closely to support Seiyu’s growth by focusing on improving operational efficiency, product quality and selection, profitability, and productivity through technology adoption. Since 2021, Seiyu has benefited from a range of value creation efforts, such as:

  • Improving the quality and selection of products, especially for fresh produce, delicatessen, and Seiyu’s popular in-house brands, which are all major revenue drivers for Seiyu;
  • Developing standard operational processes and adopting technological solutions, such as self-checkout and automatic restocking systems, to aid workers, leading to solid man-hour productivity increases;
  • Transforming Seiyu from a traditional General Merchandise Store (GMS) into a “supermarket” by optimizing its product assortment and distribution strategies; and
  • Accelerating Seiyu’s digital transformation to enable superior customer experience, including through strengthening and modernizing its IT infrastructure.

Hiro Hirano, Deputy Executive Chairman of KKR Asia Pacific and CEO of KKR Japan, said, “We are incredibly proud of what we have achieved with Seiyu and our strategic partners Walmart and Rakuten over the course of our ownership, and how this has delivered tremendously for Seiyu’s customers and our investors. Seiyu serves as an outstanding example of how global investors with deep local knowledge, global connectivity and know-how can help iconic Japanese brands and local champions unlock their full potential. We are confident that Seiyu is well-placed to build on its achievements and wish the company and Trial continued success.”

Tsuneo Okubo, CEO of Seiyu, said, “We would like to thank our longstanding shareholders, including KKR and Walmart, for their support, which has enabled us to create substantial value for our customers and business. Over the past few years, we have leveled up our merchandising strategies and in-store operational capabilities while reinvesting in our stores, employees, and IT capabilities as part of our transformation. We now look forward to building on this success with the support of our new shareholder Trial in Seiyu’s next chapter.”

KKR made its investments in Seiyu from its Asian Fund IV. The transaction is expected to close in the second quarter of 2025, subject to regulatory and customary closing conditions.

About Seiyu
Established in 1963, Seiyu is a nationwide supermarket chain in Japan with more than 240 retail units. Through its supermarket and hypermarket formats and Seiyu Netsuper delivery service, Seiyu offers customers a broad assortment including fresh food, general merchandise, and apparel products across Japan.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

For more information, please contact:

Media Inquiries

For Seiyu
Corporate Communications, Corporate Planning
+81 4222 68 7102

For KKR
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

For Walmart
Rachael Simmons
Rachael.simmons@walmart.com

Source: KKR & Co. Inc.

 

Download PDF

 

Categories: News

Tags:

Multiply Group signs landmark investment with CVC and PAI Partners to secure a controlling stake (67.91%) in Tendam, with the transaction expected to double Multiply’s operational EBITDA post-consolidation

CVC Capital Partners
  • Multiply Group establishes new Retail and Apparel Vertical with Tendam as its anchor business, further deepening the Group’s presence in consumer-focused industries.
  • Tendam is Spain’s second-largest apparel group by market share and one of Europe’s leading omnichannel apparel groups, operating 1,800 points of sale in more than 80 markets including Spain, Portugal, France, UAE and Latin America and brands such as Women’secret, Springfield and Cortefiel.
  • This majority stake in Tendam is the latest vertical building investment activity by Multiply Group, having recently deployed approximately AED 1 billion to acquire BackLite Media, Excellence Premier Investment, and The Grooming Company Holding.

Multiply Group PJSC (ADX: MULTIPLY), the Abu Dhabi-based investment holding company that invests in and operates businesses globally through four sectors, Mobility, Media and Communications, Energy and Utilities, and Beauty and Wellness, subject to successful receipt of all regulatory approvals, has agreed to invest via a capital increase that will secure a controlling stake of 67.91% in Castellano Investments S.À R.L. (“Company”) (the owner of Tendam Brands S.A.U and other subsidiaries), becoming the majority shareholder in the Company alongside Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners respectively, who will remain minority shareholders in the Company.

Tendam is Spain’s second-largest apparel group by market share and one of Europe’s leading omnichannel apparel groups. Multiply Group will lead the next phase of growth for Tendam, geared towards further international expansion and development of the group’s omnichannel ecosystem. The transaction is subject to approval by the pertinent regulatory authorities.

With this investment, Multiply Group has established its presence in the retail and apparel sector, with Tendam serving as the anchor for the new vertical. The deal marks Multiply Group’s first major investment into Europe, representing significant geographical growth and further deepening its presence in consumer-focused businesses.

Since 2020, Tendam has delivered consistent growth quarter after quarter, consolidating its business model in key markets and growing its international footprint. At the end of January 2025, Tendam’s total sales for the last twelve months (LTM) stood at c. €1.4 billion, with EBITDA post IFRS-16 of €341 million.

Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: “The majority stake in Tendam achieves three strategic goals for Multiply Group: It enables us to push forward with our commitment to create double-digit EBITDA growth. It marks our first entry into the retail and apparel sector we have been targeting and believe has significant growth potential. And finally, the acquisition is a tangible step in our global expansion efforts, which strategically positions the Group to continue building on its international portfolio in years to come.”

Tendam has become a pioneer in the omnichannel apparel retail sector, present at over 1,800 points of sale in nearly 80 countries on four continents. It features twelve own brands that are primarily positioned in the premium mass market segment (Women’secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove, High Spirits, Dash and Stars, OOTO, HI&BYE, Milano, and children’s clothing line Springfield Kids), as well as almost 200 third-party brands, well-established loyalty clubs, market-leading technological capabilities, an extensive network of more than 1,800 points of sale (including directly-operated stores, corners and franchises) and online.

From a strategic perspective, the acquisition presents a significant opportunity for Multiply Group to build on Tendam’s platform of brands and strong performance to propel future growth by having access to the €1.3 trillion global apparel retail market.

The move follows a series of recent acquisitions and vertical-building activities by Multiply Group where it has successfully acquired controlling stakes in Excellence Premier Investment, Media 247, BackLite Media, and The Grooming Company Holding and has overachieved its year of efficiency targets for 2024.

Jaume Miquel, Chairman and CEO of Tendam, highlighted: “Since implementing the Tendam 5.0 strategy, Tendam has demonstrated exceptional growth, underpinned by the creation of a unique, unrivalled omnichannel ecosystem. The investment by Multiply Group is an endorsement of that strategy and affords increased capacity for accelerated growth. Likewise, CVC Funds and PAI, through Llano and Arcadian, offer continuity and a strong, in-depth understanding of the company. All of our investors, in partnership with a committed management team, are the best possible guarantee of continuing growth and success.”

Caroline Goergen, Director at Llano Holdings S.à r.l., said: “We are very excited to partner with Multiply Group and continue supporting Tendam in this new phase of growth. We are very grateful to Tendam’s management team, who have created a unique ecosystem of brands and significantly outperformed the market. We remain enthusiastic about Tendam’s growth prospects and our continued investment.”

Laura Muries, Partner & Head of Spain for PAI’s Flagship Fund, said: “Since our investment in 2017, the partnership with Tendam has been a successful transformation journey, driven by an exceptional team. Today, Tendam is a leading and highly profitable omnichannel company, with unique access to 24 million customers and consistent above-market growth. We are very happy to continue supporting the company in further developing this new strategy internationally.”

Multiply Group has been advised by Greenhill (a Mizuho affiliate), Hogan Lovells and KPMG on the transaction. Castellano and its current shareholders have been advised by Uria Menendez. Ramón Hermosilla Abogados and Latham & Watkins LLP have been also legal advisors in this transaction.

Multiply Group achieved strong performance in 2024 across key metrics, which was reinforced by its market-leading position across the mobility, media, and beauty sectors. The Group’s revenue surged 56% year-on-year, exceeding the AED 2 billion mark, and was propelled by double-digit organic growth across all verticals, resulting in Group EBITDA growth of 15% reaching AED 1.9 billion.

Categories: News

Tags:

Huda Beauty Announces Kayali’s Transition into a Standalone Fragrance Powerhouse

No Comments
Fsn Capital

KAYALI to partner with General Atlantic to support next phase of growth as leading global fragrance innovator

United Arab Emirates, February 17 2025– Huda Beauty announces that it will sell its ownership in KAYALI, the fragrance business founded by Huda and Mona Kattan in 2018, which has since become a leading disruptive brand in the fragrance category. The separation comes after years of developing the brand in Dubai, establishing it as a globally renowned Middle Eastern brand recognized for its marketing, social media strategies, and delicious gourmand fragrances.

KAYALI’s face and the driving force behind its dramatic growth, Mona Kattan, will partner with General Atlantic, a leading global growth equity firm, to jointly own KAYALI post-sale and to support the brand’s ambitious plans of bringing the love for scent layering to the world. With General Atlantic’s investment, KAYALI will now operate as an independent company, marking a significant step forward in its journey.

Founded by Huda and Mona Kattan in 2018 under the umbrella of parent company Huda Beauty, KAYALI has rapidly become a disruptive force in the fragrance industry. Under the creative vision of Mona Kattan, the brand quickly evolved into a powerhouse, gaining global recognition for its unique approach to modern perfumery.

KAYALI’s partnership with General Atlantic will provide the necessary resources and expertise to accelerate the brand’s evolution while maintaining its authenticity, creativity, and deep connection with its community. Mona Kattan will continue her role as KAYALI’s CEO, leading the brand into its next phase of growth and transformation.

Additionally, Huda Beauty will fully redeem the ownership interest that TSG Consumer has held in it since 2017. With this move, Huda Beauty is making history as one of the few established beauty brands to return to full founder ownership. This decision reflects the brand’s commitment to growth on its own terms, while continuing to learn, evolve, and inspire within the beauty industry. Huda Kattan will continue to lead Huda Beauty, independently driving the brand to new heights as a global beauty powerhouse.

“This is such a pivotal moment for KAYALI, and we are very excited for the next chapter of Mona and KAYALI’s journey,” states Huda Kattan, founder and CEO of Huda Beauty. “It’s been such an amazing experience working so closely with Mona over the years – I have loved every minute of it, and I’m also so excited to see what the future holds as KAYALI continues to grow. I’m so unbelievably proud of Mona’s success and I’ll always be cheering her on!” 

“This is an incredibly exciting moment for KAYALI,” adds Mona Kattan. “From day one, my mission has been to create a fragrance brand that inspires confidence, creativity, and self-expression. As we transition into an independent company, our partnership with General Atlantic will unlock new opportunities, expand our global presence, and continue disrupting the fragrance industry with bold innovation.”

With both brands now charting their own independent paths, this marks the beginning of an exciting new era filled with possibilities, growth, and innovation.

Melis Kahya Akar, Managing Director and Head of Consumer for EMEA at General Atlantic, commented: “Fragrance is one of the fastest growing segments in the beauty industry, and KAYALI has redefined the sector through its imagination, authenticity, and emotional connection to consumers around the world. Mona has built something truly special – a brand that resonates across generations and cultures, enabling personalization and attracting both fragrance enthusiasts and newcomers to the category alike. We see immense opportunity for KAYALI to continue its growth journey as the brand expands its global community, unveils new products, and continues to push the boundaries of scent storytelling. We couldn’t be more excited to partner with Mona and her team on this next chapter as they bring these ambitions to life.”

Goldman Sachs International served as Huda Beauty’s financial advisor, and Gibson Dunn served as its legal advisor.  Skadden, Arps, Slate, Meagher & Flom served as Mona Kattan’s legal advisor.  Raymond James served as General Atlantic’s financial advisor, and Latham & Watkins served as its legal advisor.

This transaction is subject to regulatory approval.

About Huda Kattan

Huda Kattan, recognized as one of Forbes’ Self-Made Women in the US, a TIME’s 100 Impact Awards recipient, and one of the 100 Most Powerful Businesswomen in the Middle East, is the Founder and CEO of Huda Beauty, one of the fastest-growing beauty brands in the world. As a pioneering entrepreneur, acclaimed celebrity makeup artist, and leading beauty authority, Huda has always had a lifelong passion for beauty. This motivated the launch of her beauty blog in 2010, which became a top beauty blog in the world.

In 2013, with a $6,000 loan from her sister, Alya Kattan, Huda launched a range of viral false eyelashes exclusively at Sephora in The Dubai Mall (currently the #1 Sephora globally), while launching her namesake brand, Huda Beauty.

Driven by a commitment to quality, authenticity, and innovation, Huda Beauty has evolved from an influencer brand to a beauty movement. The brand has become known for inspiring transparency within the industry and encouraging the celebration of individuality and self-expression by empowering beauty lovers worldwide.

Over the years, Huda has been on a mission to challenge industry conventions and bring the brand’s ‘Beauty is Self-Made’ vision to life. Under her leadership, the company is focusing heavily on innovation and inclusivity and has stopped the use of filters and photoshop on their social media platforms. Their focus has been towards advocating for authenticity and transparency on social media, helping to set the standard for what’s real in beauty today.

Often referred to as the internet’s “beauty big sister,” Huda’s Instagram account is the most-followed beauty brand on the platform, boasting over 54 million followers. Her YouTube channel has accumulated more than 4.1 million subscribers, while her TikTok audience has grown to 10.5 million.

Regularly using her platforms to engage and involve her community, Huda continues to create one-of-a-kind beauty tutorials, viral tips and products, new beauty trends and spotlight other content creators, giving a voice to the broader beauty community. Under her leadership, Huda Beauty has become a global powerhouse, receiving numerous accolades and awards, including the Allure Best of Beauty Award, Glamour Beauty Award, and Cosmopolitan Beauty Award – recognizing the brand’s dedication to delivering the ultimate range of innovative products.

Today, with the rebrand and bold, yet approachable new logo, Huda’s entrepreneurial journey continues to support and inspire influencers and digital entrepreneurs. Huda has recently launched Huda Hotline, her first personal project since the launch of Huda Beauty. Huda Hotline is a raw and unfiltered podcast where Huda shares real conversations about beauty, success, and self-discovery, creating a safe space to challenge beauty standards and connect with her community on a deeper level.

Throughout her journey, Huda emphasizes the power of self-trust. With a dedication to her community and a clear vision for the future, Huda Beauty is poised to redefine the beauty landscape for years to come, driven by its mission to empower individuals with the philosophy that beauty is self-made.

About Huda Beauty

Huda Beauty’s mantra is that Beauty is Self-Made. Founded by leading beauty authority Huda Kattan in 2013, the brand has evolved to become a globally renowned beauty movement that challenges conventional standards and empowers beauty lovers worldwide. Known for inspiring transparency within the industry and creating iconic, innovative and cult-favorite products, such as the ICONIC Easy Routine – Easy Primer, Easy Blur & Easy Bake Setting Powder – the brand makes beauty accessible and fun for all. Driven by their community, Huda Beauty encourages a celebration of individuality and self-expression that goes beyond just make-up. Recognized for its commitment to quality, authenticity and innovation, the brand has also received numerous accolades and has been honored with prestigious awards, including the Allure Best of Beauty Award, Elle Beauty Award, and Cosmopolitan Beauty Award.

About Mona Kattan

Mona Kattan, an Arab American entrepreneur, is recognized as one of the most influential women in the fragrance industry and the Arab world. As the founder of KAYALI fragrances and co-founder of Huda Beauty, she has achieved remarkable success, dedicated to fostering inclusivity in beauty.​

After earning her bachelor’s degree in finance, Mona briefly worked in investment banking before embarking on her entrepreneurial journey. In 2009, she launched her first business venture, a PR and business consultancy, while simultaneously building her personal network and community.​

Mona’s ultimate passion, however, has always been fragrance. Known as the “Perfume Princess,” she has established herself as a leading figure in the fragrance world. With over 4,500 perfumes in her personal collection, she has been honored with the title of “Most Influential Social Media Personality” by The Fragrance Foundation in 2018.

Driven by her love for perfume, Mona launched KAYALI under Huda Beauty in 2018, reshaping the industry landscape through the art of layering and connecting people through fragrance.

Mona’s passion has built a global community of over 6 million followers across social media. Her expertise has been featured in leading publications such as WWD, Cosmopolitan, Vogue, POPSUGAR, Allure, Marie Claire, Elle and Harper’s Bazaar. She has also been named one of the most powerful women in the Middle East by Forbes in 2024 and 2025. Additionally, Mona has appeared on popular TV shows like Netflix’s Dubai Bling and Shark Tank.​

Beyond her role as a brand founder & CEO, Mona is an active mentor, speaker, and member of organizations like YPO, Founders Forum, and The Fragrance Foundation, continually shaping the future of the beauty industry.​

About KAYALI

Fueled by passion, KAYALI was founded in 2018 by beauty mogul and fragrance fanatic, Mona Kattan. Translating to ‘my imagination’ in Arabic, KAYALI is inspired by her rich Middle Eastern heritage and the art and rituals of layering scents to help you create your mood.  KAYALI collaborates with some of the world’s most renowned perfumers and sources the finest ingredients to create unique juices that are infinitely memorable, long-lasting, and cruelty-free. Each luxurious fragrance is an ode to true craftsmanship and tells a special story from the addictive notes to the multi-faceted jeweled bottles.

About General Atlantic

General Atlantic is a leading global growth investor with more than four decades of experience providing capital and strategic support for over 520 growth companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Climate, and Sustainable Infrastructure strategies. General Atlantic manages approximately $100 billion in assets under management, inclusive of all strategies, as of October 1, 2024, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit: www.generalatlantic.com.

About TSG Consumer Partners

Founded in 1986, TSG Consumer Partners, LP is a leading consumer-focused private equity firm with approximately $14 billion in assets under management. Leveraging the firm’s deep knowledge of the consumer, TSG partners with founders and management teams to accelerate growth and build iconic, best-in-class brands. Representative past and current partner companies include Summer Fridays, Mavis Tire, Dutch Bros Coffee, Chemical Guys, Canyon Bicycles, Revolve, Planet Fitness, IT Cosmetics, Think!, and Yard House. TSG has investment offices in San Francisco, New York, and London.

For Press/Media Enquiries please contact:

Marie-capucine Maloy
HUDA BEAUTY Global Vice President of Communications
marie@hudabeauty.com

Kara Davis
KAYALI Vice President of Global Marketing
kara.davis@hudabeauty.com

General Atlantic
media@generalatlantic.com

Categories: News

Tags:

Platinum Equity Invests in R&B Wholesale Distributors

Platinum

Leading regional home appliance distributor looking to expand its reach

Transaction extends momentum of Platinum Equity’s Small Cap team

LOS ANGELES (February 4, 2025) – Platinum Equity announced today a significant investment in R&B Wholesale Distributors, Inc., a leading distributor of home appliances in the southwestern United States.

Financial terms of the transaction were not disclosed.

Headquartered in Ontario, California, R&B was founded in 1968 by Bob Burggraf and is a leading distributor of major home appliances in California, Arizona, Nevada, and New Mexico.

“Platinum has a lot of experience helping founder-led businesses sustain their culture while leveraging our operational expertise and M&A capabilities to maximize their potential.”

Jacob Kotzubei, Co-President, Platinum Equity

The company carries one of the largest selections of appliance brands in the industry, with an emphasis on kitchen and laundry products, including refrigerators, ranges, dishwashers, and washer and dryers. The company sells primarily through the dealer, builder, and property management channels and serves the multi-family, single-family, and light commercial end markets.

“R&B has built an impressive, diversified business over the past 57 years with an opportunity to expand its reach and increase its scale,” said Platinum Equity Co-President Jacob Kotzubei. “We have tremendous respect for everything the Burggraf family has achieved and appreciate the entrepreneurial spirit that continues to drive the company today. Platinum has a lot of experience helping founder-led businesses sustain their culture while leveraging our operational expertise and M&A capabilities to maximize their potential.”

The Burggraf family retained a minority ownership stake in the company and R&B executives Connie Espina and Chris Burggraf will continue to lead the business.

“I am proud of the legacy we have built over the years and of the hard work of so many dedicated employees that have contributed to our success,” said Bob Burggraf. “Joining forces with Platinum will provide us with additional financial and operational tools, enabling us to continue to grow with both our valued customers and suppliers and to preserve our legacy for generations to come.”

The R&B investment was led by Platinum Equity’s Small Cap team.

“R&B is a well-established distribution platform that offers an impressive product range, high-touch sales support, and flexible delivery and installation in order to provide the highest quality services to customers,” said Platinum Equity Managing Director Dan Krasner. “We believe that further investing in the company’s go-to-market capabilities, technology, and footprint will position us well for continued success. We look forward to partnering with the company’s leadership team to grow the business organically and through prospective M&A.”

Raymond James & Associates served as financial advisor to the Burggraf family and Nelson Mullins served as the family’s legal counsel on the investment by Platinum Equity.

Massumi + Consoli served as legal counsel to Platinum Equity on the transaction.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 29 years Platinum Equity has completed more than 450 acquisitions.

Categories: News

Tags:

Carlyle provides strategic capital for Jordanes

Carlyle

Oslo, Norway, 06 January 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced that its Global Credit platform has provided a strategic capital package of NOK 2,750 million ($250 million) to Jordanes ASA (“Jordanes”), one of Norway’s leading brand houses. The financing will be used to finance a management buyout of Jordanes, led by co-founders Jan Bodd and Stig Sunde, as well as refinance the company’s existing indebtedness and fund its future growth.

Jordanes is an established Scandinavian brand house, focused on everyday products and services, with a diverse portfolio including more than 20 brands, spanning across foods, fitness and beauty, casual dining, as well as international brands. Since its inception in 2007, the company has continued to expand its portfolio to include iconic regional brands such as Sørlandschips, Synnøve, Peppes Pizza and Bodylab.

This strategic investment, led by Carlyle Credit Opportunities, will further consolidate the ownership of Jordanes’ co-founders, strengthen the company’s financial foundation by refinancing and extending certain existing indebtedness, and provide additional growth capital to accelerate Jordanes’ ongoing expansion through both organic growth and M&A.

Taj Sidhu, Head of European and Asian Private Credit at Carlyle, said: “We are delighted to provide this strategic capital package to Jordanes, and support the company’s ambition to continue expanding its well-diversified suite of iconic Nordic brands, which benefit from high levels of brand loyalty among its regional customer base. The transaction demonstrates our ability to provide flexible capital solutions for strong entrepreneur-owned businesses to accelerate their growth trajectory.”

Jan Bodd and Stig Sunde, Co-founders of Jordanes, said: “We are grateful for the support of Carlyle, which enables Jordanes to continue driving growth through its unique consumer offering and diversified portfolio of “local champion” brands. This transaction marks a significant milestone in Jordanes’ growth journey.”

This transaction follows the final close of the third Carlyle Credit Opportunities Fund (“CCOF III”) in December 2024, with $7.1 billion in investable capital.

Carlyle’s Global Credit platform manages $194 billion in assets under management, as of September 30, 2024. It regularly pursues investments in privately negotiated debt and capital solutions partnering with high-quality sponsors and leading family or entrepreneur-owned companies.

+++

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $447 billion of assets under management as of September 30, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About Jordanes

Jordanes was founded in 2007 by Jan Bodd and Stig Sunde and is today an established Scandinavian brand house focusing on everyday products and services. Jordanes owns and operates a diverse portfolio of iconic brands, including Synnøve, Sørlandschips, Peppes Pizza, Bodylab, and Backstube. In 2023, the Group had Revenue of NOK 6,466 million, approximately 2,700 employees, and 9 factories across Scandinavia.

 

Media contacts:

Carlyle:

Charlie Bristow

Tel: +44 (0) 7384 513568

Email: charlie.bristow@carlyle.com

 

Jordanes: 

Nikolai Steinfjell (CFO)

Tel: +47 975 44 712

Email: nikolai.steinfjell@jordanes.no

 

Categories: News

Tags:

KKR Invests in Leading Internet Restaurant Company Rebel Foods

KKR
  • Transaction marks KKR’s latest growth equity investment in India

MUMBAI, India–(BUSINESS WIRE)– Rebel Foods, a leading internet restaurant company, and global investment firm KKR today announced the completion of an investment in Rebel Foods by affiliates of KKR. Through this transaction, KKR will support the Company’s growth, including its expansion in India and the Middle East and adding more food and beverage brands into its portfolio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241218686026/en/

Founded in 2011 as a quick service restaurant, Rebel Foods is today the world’s largest multi-brand cloud kitchen platform, with 450 cloud kitchens serving a network of more than 5,000 internet restaurants in more than 70 cities across India, the UAE, and the UK, and more than two million customers globally. Rebel Foods uses a proprietary technology stack to deliver on end-to-end food orders, demand forecasting, brand launches and customer insights for multiple food and beverage brands. Over the years, Rebel Foods has built a comprehensive ecosystem of brands, including Faasos, Behrouz Biryani, Oven Story Pizza, Lunchbox, The Good Bowl, Sweet Truth, and Wendy’s, among others.

Jaydeep Barman, Co-founder and CEO of Rebel Foods, said, “We are happy to welcome KKR as a strategic partner in our journey. Their investment is a testament to the inroads we have made towards our vision of building a stronger platform, expanding our portfolio of brands, scaling our omnichannel presence, and achieving operational excellence on a global scale. We look to tap into KKR’s deep experience and global expertise to supercharge our continued growth. As we continue to scale, our focus remains firmly on innovation, sustainability, and delivering long-term value for our customers and stakeholders.”

Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “We are pleased to invest in Rebel Foods, the largest cloud kitchen operator and brand owner, using technology to deliver a range of cuisines and culinary experiences to consumers. We look forward to leveraging our global network and local knowledge, and operational and technology expertise to further scale the company’s ability to expand its portfolio and deliver novel products to meet consumers’ evolving preferences.”

This transaction marks KKR’s latest investment in India made from its Asia Next Generation Technology strategy, which seeks to support the growth of innovative, disruptive companies in Asia Pacific across consumer technology, software, and FinTech.

KKR’s other growth equity investments in Asia Pacific include SmartHR, a cloud-based HR management software in Japan; MUSINSA, an online fashion platform in Korea; Advanced Navigation, a developer of AI robotics and navigation technology in Australia; Privy, a digital trust provider in Indonesia; KiotViet, a merchant platform for SMEs (small and medium-sized enterprises) in Vietnam; and GrowSari, a B2B e-commerce platform serving SMEs in the Philippines.

Avendus Capital acted as the exclusive financial advisor to Rebel Foods on this transaction.

****

About Rebel Foods

Rebel Foods is the world’s leading internet restaurant company and home to brands including Faasos, Behrouz Biryani, Oven Story Pizza, The Good Bowl, Sweet Truth, and Wendy’s. With over 450 kitchens across 70 cities, Rebel Foods has developed its full-stack technology – Rebel OS – through which multiple Rebel brands are launched and scaled up in a very short period. Through the Rebel Launcher, powered by Rebel OS, Rebel has launched over 25+ brands and expanded across the country. Rebel Foods currently operates 45+ brands across multiple countries – India, the United Arab Emirates (Dubai, Abu Dhabi, Sharjah) and the United Kingdom.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media Inquiries
For Rebel Foods
Kruttik Parekh
+91 97 6999 2707
Kruttik.parekh@rebelfoods.com

For KKR
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Source: KKR

 

Download PDF

Categories: News

Tags:

Global Travel Technology Company OYO Completes Acquisition of G6 Hospitality from Blackstone Real Estate

Blackstone

New Delhi & Dallas – Oravel Stays, the parent company of the global travel technology company OYO, today announced that it has completed its previously announced acquisition of G6 Hospitality, the leading economy lodging franchisor and parent company of the iconic Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million.

Advisors
Goldman Sachs & Co. LLC acted as Blackstone’s lead advisor and Jones Lang LaSalle Securities, LLC and PJT Partners acted as financial advisors. Simpson Thacher & Bartlett LLP served as Blackstone’s legal advisor.

Deutsche Bank & Mizuho Securities served as OYO’s advisor in various capacities.

The transaction was announced on September 20, 2024.

###

About OYO
OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 175K hotel and home storefronts in more than 35 countries including India, Europe and Southeast Asia. For more information, visit here

About G6 Hospitality LLC
G6 Hospitality LLC is a leading economy lodging franchisor, with nearly 1,500 economy lodging locations under the iconic Motel 6 brand and the Studio 6 Extended Stay brand in the United States and Canada. G6 Hospitality is committed to making hospitality accessible to all through responsible business practices and unparalleled opportunity for franchisees to build a legacy through ownership. Both Motel 6 and Studio 6 were recognized in the 2024 Entrepreneur Franchise 500® report, with Motel 6 ranking in the top 50 of all franchises. The Carrollton, Texas, based company was named a 2024 Leader in Diversity by Dallas Business Journal. For more information, please visit http://www.g6hospitality.com/.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $336 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

CONTACTS:

OYO
Anupriya Malik
Anupriya.d@oyorooms.com

G6 Hospitality
Maggie Giddens
Giddens_Maggie@g6hospitality.com
 
Blackstone
Jeffrey Kauth
Jeffrey.Kauth@Blackstone.com

Categories: News

Tags:

Why Platinum Equity Acquired ‘Proud’ Family-Owned Italian Pesto Sauce Producer Polli

Platinum

In 1872, Fausto Polli opened a small store front selling canned vegetables in the heart of Milan.

Since that humble beginning, the Polli family has grown the business to become a leading European producer of pesto and pasta sauces.

The company today operates four plants in which more than 130 different raw materials are processed, producing approximately 29,000 tons of vegetables and more than 190 million packages every year.

A core segment of the business is private label pesto where the company has a leading position in supplying products to European grocery store chains. Traditional pesto is made of basil leaves, pine nuts, garlic and olive oil – simple ingredients considered to be high in healthy fats and antioxidants.

With family eying further international expansion, Platinum Equity recently acquired a majority stake in the company. The Polli family retains a minority stake in the business together with CEO Marco Fraccaroli, who will continue to lead the company.

“Platinum has a lot of experience helping family-owned businesses leverage our M&A capabilities and global operating expertise to capitalize on market opportunities and maximize their potential,” Platinum Equity Co-President Louis Samson said in a released statement after the deal announcement.

“Polli has built an exceptional brand with a proud heritage, and we look forward to working together to build on that legacy.”

Manuela Polli, Managing Director of Polli and sixth generation family member, said: “We are excited to continue our ambitious journey with Platinum Equity, an important partner who shares our company’s values and goals. We are confident that together we will take the business to a new level of global leadership.”

The Polli investment was led by Platinum Equity’s European Small Cap investment team, which is experienced in acquiring businesses in the food and beverage sector.

Samson, Managing Director Fernando Goni and Senior Vice President Filippo Rossi recently gave their thoughts on one of Platinum Equity’s latest investments.

(Questions and answers have been edited for clarity)

Q: Describe the business.

Goni: Polli is a family-owned business that produces pesto sauces and other condiments. The business is mostly for private label, but they also have around 15% of the business which is branded Polli. They make many other products, but it’s mostly a pesto sauce business, selling primarily to large supermarket chains, so very strong in Europe. It’s a company that did extremely well in developing that pesto sauce market.

Samson: This was a family-owned asset for many generations and divesting it was a big decision. With two prior investments (Fantini Group and DeWave), we’re known in Italy and have a track record to stand on. The advisors knew us, and they contacted us on this deal 18 months ahead of it.

The family wasn’t sure initially they wanted to sell a majority share of the business, and it took a while for them to make that decision.

During that time, our team stayed close and developed a very good relationship with the family, especially with Manuela Polli, who’s really driving change and professionalizing the company. We have tremendous respect for the legacy they’ve built and I think over time the family realized that Platinum Equity would be a good home for the business and its next chapter. We have a shared vision to improve the business and grow outside of Italy in Europe and the United States and believe we can help.

Q: For the uninitiated, what is pesto sauce used for?

Goni: It is a very basic sauce that some make themselves or you can buy from the supermarket. It’s basically basil leaves, oil, pine nuts and cheese. It’s not a very complicated product. I live in the U.K. with my family, and we eat it a lot. When we started looking at Polli, I realized I had pesto sauce both in the fridge and in the cupboards.

Rossi: Italians eat it with pasta, but outside of Italy it is a lot more than a pasta sauce. You can mix it with salads and soups. You can put it in sandwiches. It goes on meat and fish as a topping. And it’s interesting that outside of Italy, pesto as a category is growing fast, mainly for its convenience and its flexible usage in vegetarian diets. And that was one of the reasons that we liked the upside potential on the deal.

Q: It’s another instance of Platinum Equity transacting with a family-owned company. Why does the Platinum Equity approach work when it comes to approaching family or founder-owned companies thinking of a possible exit?

Goni: With Polli, it may have been difficult to make a decision to sell because it’s an asset that has been in the family for a long time. I think aligning with the vision of the family is really important. When that alignment exists, I think what Platinum Equity can provide is operational expertise, resources and the ability to grow outside of these European markets. When that aligns with what the family is looking for, then you have a really good match.

Rossi: Every deal has its own history, and it is important to be flexible and provide a solution to the situation that we have in front of us.  With Polli, the family had successfully brought in professional management from the outside already, and performance had been outstanding with CEO Marco Fraccaroli driving the business from approximately € 90 to about € 200 million in revenues. Platinum Equity has helped the company through this generational transition, which is a sensitive topic in Europe.

Q: What will be the operational focus?

Goni: I think that there’s a path of creating more operational efficiencies. I think the other area where we can support them, and there is an opportunity, is on M&A. We’ll look at opportunities, source them, work with the team on executing those deals, integrating those companies. That’s going to be a major part of the deal going forward, and we can definitely team up with them and help on that.

Rossi: We see Polli as a great platform to continue investing in organic growth and also pursue acquisitions both in Europe and the U.S. There is an exciting ambition to establish a direct presence in new geographies or in adjacent fast-growing product categories like dips, snacks, ready-made meals.

Q: Why does Platinum like the food and beverage sector?

Samson:  We’ve made several investments in food and beverage, both in Europe and North America. We like the food and beverage space because it’s quite a stable market. We look at every segment and geography differently, but some of the fundamentals are the same. We really focus on the attributes, and then we see how we can improve the company that we’re buying. But effectively, it’s generally a stable market with typically good growth characteristics. And we like that.

Q: Tell us about Platinum’s strategy in Europe.

Samson: We’ve been in Europe for more than 20 years and we’ve really supercharged the effort in the last eight to ten years. We invested in human capital and infrastructure, and we built a team that has taken us to the degree of relevance and importance in the market that we’ve reached in North America. We didn’t build the team around American transplants into the European market, but instead addressed the European reality by having a multicultural group that understands local culture and speaks the languages, whether it’s Italian, French, Spanish, German, Portuguese, Dutch or English. We have also replicated our full suite of operational and carveout personnel and capabilities on the ground at the European level, which is a hallmark of Platinum’s approach and a big differentiator for us. So far, it’s paying off. We’ve been very active and we like our current position in the market.

 

Categories: News

Tags: